Five pieces of advice from the man who brought investing to regular people

John C. Bogle, founder of the Vanguard Group of Investment Cos., died on Wednesday.AP Photo/Mark Lennihan, File

John C. Bogle, who died on Wednesday, is widely seen as having changed how ordinary people invest their money. His firm, the Vanguard Group of Investment Cos., which grew to have US$4.9 trillion under management, was built on a belief that, over the long term, most investment managers cannot outperform the broad stock market averages.

“Jack Bogle made an impact on not only the entire investment industry, but more importantly, on the lives of countless individuals saving for their futures or their children’s futures,” Tim Buckley, Vanguard’s chief executive, said in a statement.

Here are some of Bogle’s investment tips:

1. Stay the course

“Wise investors won’t try to outsmart the market,” he said. “They’ll buy index funds for the long term, and they’ll diversify.”

Long-term investors must hold stocks even though the market is risky, because they are still likely to produce better returns than the alternatives, Bogle said in 2012.